German property company Quantum Immobilien KAG has acquired a building occupied by Commerzbank in Cologne from Aberdeen Immobilien for an undisclosed sum. A Quantum spokesperson on Wednesday declined to reveal the name of the funds buying and selling the asset.

The property, located at Unter Sachsenhausen 5-7 in Cologne's banking district, comprises a leasable area of around 14,000 m2 and is virtually entirely leased to Commerzbank on a long-term basis.

Aberdeen Immobilien was advised on the transaction by Jones Lang LaSalle.